As the account of the debtor is been closed, what do you with cash book?
Debited
Credited
Not recorded
Neither debited nor credited
Which word is used as no individual names, dates and amount details have been provided?
Bad debts
Debtors written off
Unpaid amount
Loss
Where will you show new bad debts and new provision for bad debts?
Debit side of profit and loss account
Credit side of profit and loss account
Trial balance
Liability side of balance sheet
Where will be the difference between provision for bad debts posted?
Profit and loss account
Balance sheet
Journal
Ledger
Estimate of the amount which a business will lose in a financial year because of bad debts is known as:
Provision for bad debts
Written off debts
Credit control
The concession allowed, when debtors make immediate payment is known as:
Provision
Discount
New provision
The establishing of a credit limit and the later monitoring of the debtors account is known as:
Credit limit
Credit
Over credit
Out of this, which principle is followed in case of provision for doubtful debts?
Matching principle
Historical principle
Disclosure principle
Revenue recognition principle
The amount of bad debts is:
Profit
Income
Expenditure
Where will the debts be posted in profit and loss account?
Debit
In the loss side
